RWA Wealth Partners LLC Buys New Position in Microchip Technology Incorporated (NASDAQ:MCHP)

RWA Wealth Partners LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,684 shares of the semiconductor company’s stock, valued at approximately $603,000.

Several other large investors have also added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new position in Microchip Technology in the 3rd quarter worth $225,800,000. Qube Research & Technologies Ltd lifted its holdings in Microchip Technology by 122.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock worth $119,353,000 after buying an additional 840,526 shares during the period. Public Sector Pension Investment Board boosted its position in Microchip Technology by 173.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock valued at $82,937,000 after acquiring an additional 673,924 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Microchip Technology by 1,082.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock worth $64,558,000 after acquiring an additional 655,332 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Microchip Technology by 27.8% during the 3rd quarter. Deutsche Bank AG now owns 1,927,892 shares of the semiconductor company’s stock worth $150,472,000 after acquiring an additional 418,869 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $92.21 on Friday. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30. The company has a market capitalization of $49.83 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.65. The firm has a 50 day moving average of $87.00 and a 200 day moving average of $84.55. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company earned $1.48 EPS. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a $0.45 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. Microchip Technology’s payout ratio is 42.06%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCHP shares. TD Cowen lifted their price target on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Stifel Nicolaus raised their price objective on Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Monday, April 8th. Piper Sandler cut shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Thursday, January 4th. Finally, Evercore ISI assumed coverage on shares of Microchip Technology in a research note on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $92.50.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.